Today I purchased an '87 Cherokee.
Stats:
2 year old 4.0L (~25-30k ont he motor, 165K on the truck)
4WD
3" lift w/ 30x1050 tires and black rims
Matte black paint (durable for off-roading)
beige interior
3rd party roof rack
I got it in Houston (3 hours away) for $2000. It needs work, but runs great as is. No body damage (except for a bent back bumper) and no rust (at all!). The tranny is smooth and it shifts easily into 4WD H and 4WD L. The engine runs great and it starts easily. The interior, while dirty, is perfect. No tears or burns. The interior was from a 94 Cherokee.
Now the problems.

--TONS of oil leaks. It needs a new main rear seal and head gasket seal. Needs a quart a month.
--Rear Transfer case leaks (looking into fixing this now, myself)
--Tires are scalloped from not being rotated enough (noisy)
--Windshield is cracked
--Fuel flow sensor not connected when fuel pump replaced (read empty all the time)
--Small exhaust leak near engine
Anyone know how to find out what transfer case I have? There are 4 different ones on Cherokees, and the parts stores don't know how to find out which it is. They are VERY different, because they range in capacity from 7q of Dexron 2 tranny fluid to 2.2q.
Also, anyone know how to get oil off of paint? The drive got some oil on the back hatch, and I don't want to use anything that will take the paint off. The soap at the car wash (do-it-yourself car wash with foam brush) didn't get it all.
I attached an image of it (before the wash).
Dave